Overview

• The Federal Constitutional Court of Germany dismissed a constitutional complaint by Varta shareholders challenging the company's restructuring plan.
• The restructuring plan includes a capital reduction to zero, effectively wiping out the value of all existing shares, followed by a capital increase.
• Varta's financial struggles stem from nearly half a billion euros in debt, with the restructuring aiming to reduce this to 230 million euros.
• Porsche has acquired a 70% stake in Varta's battery subsidiary V4Drive, now renamed V4Smart, as part of the company's recovery efforts.
• A second constitutional complaint related to Varta's restructuring remains pending before the court, with no decision yet announced.